The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-10-17
10 'exiat. All manareru were inetructed
to-day by Pfeeidont Bates 10 close the &C.
counts Of The company at midnight
AnOuT u. q o.laFFAlns.
1t Would De well TO Make n Fall s.ateme on,

It Would Do VOL TO Make Full Statement /
RI, OF tho Rinanceh
Tho weekly circular oil John A, Hsmble.
ton & Co., i,aued Saturday, states: 1.-THE
decline In Baltimore & Ohio stock from
1872 to 100 gave tho Grnt intination Of
something wrong and creai.d suspicion |
tina. tho dividend would BIO passed. The
GasIstts hold between $4,000 and 90, 900
ehares, Baltimore city $4,000, thu John
Hopklnn Uniyerbity 1880, md many
large blocka Of stock aso held by individ.
uald Of large meana. While these large
holders may DO inconyienced by not 70.
ceiying any dividend, II will DO small
holdsra who will feel II the most. The in.
convenience and loss Of tho stockholders
are, however, not 10 be compared with tho
dinastrous effect which tho pabsing Of tho
dividend will hsve In Destroying the firm
confidence which wan universally had in
tho liability OF the Baltimore 4 Ohio
Company.
I'll the Baltimore 4 Ohio Company did
not earn dividend 1t was, Of course, mout
proper that mons should DO paid. The
publiahed statements OF the company
have shown that not only have dividendn
been earned, but that each year large
surplus has been carried to surplus nc.
count. When the financial management
OF tho Baltimore & Ohio Company has
handed over to the Morgar.D,exel Byndl.
cate 1t WA admitted that large floating
debt then existed, but to wha. amounting
never been officially stated. II wGa sup.
posed, however, that this sale OF tho ex.
press and telegraph would yield amount
which would 10 far towards iiquidating
tho p.essing debt OF tho company. These
leseia have been Realised on, and yet we
still hear Of the Sl0,0o0,0oO (s5, 900, 900
bonds and IS, 100000 preferred stock)
which the syndicate Ia expected to nego.
tiaie i,r the benefit OF the company.
1.-the Drexel-Morgan syndicate and tho
managers Of tho Baltimore 4 Ohio Com.
pany dtsiya to restote confidence, they
must mako full statement Of the affairs
OF the company, and that speedily. II Ia
best to know the worst, and not to leave
TO conjecture the condition Of the tinancps
OF the company, which, in tho absence OF
information, may be considered in worae
condition than thoy really are. Although
better terms might possibly have been
made with some other party than the
Western Urioa Company 40 s specala.
tive venture, VIC consider that the syndi.
cato which arranged the deal made a good
bargain for the Baltimore 4 Ohio Com
psny, tits generally conceded that as the
Involvement to pGy dividend was 90
great, the determination 10 pass it must
have been duo to sesious caus6s, and the
n.ockholders ere ansiornly considering
why no dividend is forthcoming, and how
long 1t may BIO before tho payment Of
dividenda can be resumea. Without fur
Their assurance than the fac. that the
Dlexel-Morgan syndicate IL willing to
guarantee tho negotiation Of 5000, 600
J general mortgage bonds and S5,0O0,COO
, preferred stock, it is sufficient evidence
that all OF the direct, endorsed snd
Guaranteed bonds Of the Baltimore T. Ohio
Railroad are uuqueatlonGbIy sound ia
principal and interest; but some fearg are
entertained 90 to what may be the remit
to euch unendorss3 5ecurities as have de.
pended upon the Baltimore 4 Ohio to ad.
vance the necessary funds to pay interest
where it has not been earned, or where
the corporations are indebted to the Ba}ti-
moro & Ohio for money advanced. For
this reason, there was come dispoaition to
cell Cincinnati, Washington & Baltimore
junior mortgages and income bonde. Tho
Cincinnati, Washington & Baltimore
Company haa been doing weli thia year
and laat, and hes largely increased its
groaa esrniDee. This year the company
will probably earn in groao 1886, 900,
which, with reasonable percentage VI ex.
peases to earnings, should earn net suti-
Gent to meet fixed charges. That 1t has
=. 10: done go sipee The reofgaDi2 2tioa tbs
company hes been.Gue an exeessiye1ate
OF expenses. Cincinnati, Washington &
Baltimore hfsts cold down 10 974, seconds
to 81, thirda to SO and first incomes at 10.
! B. & Q. common sleek vas frner, end
held at higher psices, but not handled
much, only ninety stIsras being exchanged
daring the day. at tho first call two lots,
one of twenty-five st liz and one Of ten
at llS. wnro oold. Alter the first call five
shares brought liz. at tho eecond call
fifty shares aold Tor lis, and ct the close
Of the mar4st it ass ll23 bid, and none
offered.
Everything was very dull through the
Central Building yesterday. Mr.. Robert
Garrett did not call there, and I'LL tho
officials we're busy With routine work.